PIA losses shrink

Apropos an analysis on PIA's financial results carried by Business Recorder in its analyses & Comments columns on October 31, this is heartening to note that the national airline has posted highly positive results: its losses dropped by 21 percent year-on-year in the quarter ended September 2014.
Not doubt, there are two major factors that helped PIA post lesser losses to 3QCY14: the decline in fuel costs and exchange losses. No doubt, this is a highly encouraging development. It will help the government make an appropriate sales pitch for the sell-off of this beleaguered airline.
Last but not least, the financial results must not breed complacency in the airline's management. They must sustain efforts aimed at making the airline a profit-making entity to lessen burden on the national kitty.